Retail News Breaks
Rite Aid unveils co-branded Medicare Part D plan
October 25th, 2011
CAMP HILL, Pa. – Rite Aid Corp. said it's giving Medicare beneficiaries a "new choice" for affordable prescription drug coverage via a co-branded Part D plan with pharmacy benefit manager Envision Pharmaceutical Services.
Rite Aid on Tuesday launched Rite Aid EnvisionRx Plus, which it described as a "value-focused" Medicare prescription drug plan (PDP). The drug store chain said the offering gives beneficiaries a consistent plan with a $0 deductible and $0 co-payments on more than 500 generic medications, including during the so-called "doughnut hole" coverage gap in Medicare.
Rite Aid EnvisionRx Plus was designed to compete with the 15 enhanced PDPs available in each of the 31 states plus the District of Columbia where the pharmacy chain operates, according to Rite Aid.
The chain drug retailer noted that the new PDP caters to Medicare beneficiaries on a fixed budget who are looking for stable prescription costs throughout the year, since it enables members to better assess their monthly Rx expenses — especially without the spike that has often been experienced by beneficiaries when they reach the doughnut hole.
Medicare beneficiaries can enroll in Rite Aid EnvisionRx Plus, or check if their regular medications are among the thousands covered under the plan, by calling (877) 309-4875, going online to envisionrxplus.com/riteaid or consulting with their Rite Aid pharmacist. Rite Aid added that its pharmacists also have access to a Medicare Advisor tool, which generates a printable report estimating the three lowest-cost plans based on the beneficiary's current prescriptions filled at Rite Aid locations.
Leading chain drug retailers have teamed up with Medicare PDP providers this year for the open enrollment period, which began Oct. 15 and runs to Dec. 7 — about a month earlier than previously.
Earlier this month, Walgreen Co., Walmart and Target Corp. signed on as preferred pharmacy providers for a new Part D plan from Coventry Health Care Inc. And CVS/pharmacy and Aetna unveiled a new co-branded Medicare Part D plan, and Humana Inc. announced that for 2012 it will again offer a co-branded Medicare PDP with Walmart.
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